The latest value of #山寨指数 is around 63. Last week we mentioned that 'the Shanzhai index exceeded 80, and we need to pay attention as it approaches the risk zone. The last high point was 85.' Two weeks ago, we mentioned that 'in the short term, it is in a healthy state, but if it exceeds 85 in the future, caution is needed.' This round peaked at 88 before retreating, which aligns with our prediction of the risk area. The overall cryptocurrency market corrected as expected on Monday evening this week. Although #BTC☀ did not create a new low for this phase, the significant drop of #山寨币 is also why the overall liquidation scale far exceeds that of the 312 period. The #加密市场 sector mostly corrected, with an overall decline of more than 10%. The Layer 1, Layer 2 sectors, Meme, RWA, and DeFi sectors led the decline, while BTC, #ETH🔥🔥🔥🔥 , and the CeFi sector were relatively resilient.